(Reuters) - "The with Korea will not be ratified until Korea opens its market in accordance with international standards," said USDA spokesman Keith Williams.
"South Korea must take some additional steps to ensure that its beef import standards are based on science ... recognizing the safety of U.S. beef."
Read more at Reuters.com Business News
Friday, April 27, 2007
Asian Currencies: Korean Won Falls on Deficit; Singapore's Dollar Declines
(Bloomberg) -- South Korea's won dropped for the first week this month as a central bank official said the nation may post another current-account deficit following the March shortfall, which was the widest in almost a year.
The currency is under pressure to weaken as a growing deficit indicates more money is flowing out from the country than coming in. The deficit is widening on rising dividend payments to offshore investors, who owned 37 percent of the shares in the benchmark Kospi index as of April 25, according to the stock exchange. Payments usually take place in March and April, increasing demand to convert won into dollars.
Read more at Bloomberg Currencies News
The currency is under pressure to weaken as a growing deficit indicates more money is flowing out from the country than coming in. The deficit is widening on rising dividend payments to offshore investors, who owned 37 percent of the shares in the benchmark Kospi index as of April 25, according to the stock exchange. Payments usually take place in March and April, increasing demand to convert won into dollars.
Read more at Bloomberg Currencies News
S&P upgrades LUKOIL's debt to investment grade
(Reuters) - "The latter implies projected investments of $78 billion over the period, potentially rising to $112 billion when including the $34 billion acquisition budget," S&P said.
The firm has said it would complete the purchase of 376 retail stations in six European countries from its partner Conoco in the second quarter of 2007.
Read more at Reuters.com Bonds News
The firm has said it would complete the purchase of 376 retail stations in six European countries from its partner Conoco in the second quarter of 2007.
Read more at Reuters.com Bonds News
Chrysler plans cut in fleet sales
(Reuters) - Steven Landry, who was named on Friday to take over Chrysler's sales efforts in North America, said the automaker plans to reduce fleet sales to 21 percent of its total sales volume by end 2009.
The plan also forecasts a reduction in sales to car rental agencies to 15 percent of Chrysler's volume over the same time period, he said.
Read more at Reuters.com Business News
The plan also forecasts a reduction in sales to car rental agencies to 15 percent of Chrysler's volume over the same time period, he said.
Read more at Reuters.com Business News
S&P 500 Falls as GDP Growth Slows; Dow Advances to Record on Microsoft
(Bloomberg) -- The Standard & Poor's 500 Index dropped after the economy grew in the first quarter at the slowest pace in four years, while Microsoft Corp.'s improved sales forecast sent the Dow Jones Industrial Average to a record.
The Commerce Department said U.S. gross domestic product increased at a 1.3 percent annual rate in January through March, the weakest since the first three months of 2003, after a slump in home construction and a bigger trade deficit reduced growth. Inflation surged to the highest since 1991.
Read more at Bloomberg Stocks News
The Commerce Department said U.S. gross domestic product increased at a 1.3 percent annual rate in January through March, the weakest since the first three months of 2003, after a slump in home construction and a bigger trade deficit reduced growth. Inflation surged to the highest since 1991.
Read more at Bloomberg Stocks News
Banorte, Edelnor, Petrobras, Vale, Wal-Mart de Mexico: Latin Equity Movers
(Bloomberg) -- Mexico's Bolsa fell the most in more than six weeks as the central bank unexpectedly raised interest rates.
Mexico's Bolsa index fell 493.35, or 1.7 percent, to 28,849.35 at 11:43 a.m. New York time, headed for a weekly decline of 3.3 percent. Brazil's Bovespa index of the most-traded stocks on the Sao Paulo exchange fell 465.64, or 1 percent, to 48,602.05, for a weekly decline of 1.6 percent.
Read more at Bloomberg Stocks News
Mexico's Bolsa index fell 493.35, or 1.7 percent, to 28,849.35 at 11:43 a.m. New York time, headed for a weekly decline of 3.3 percent. Brazil's Bovespa index of the most-traded stocks on the Sao Paulo exchange fell 465.64, or 1 percent, to 48,602.05, for a weekly decline of 1.6 percent.
Read more at Bloomberg Stocks News
ABN set to allow RBS group due diligence - source
(Reuters) - ABN AMRO is likely to modify a "standstill" condition attached to opening its books to a group of suitors led by Royal Bank of Scotland, a source familiar with the situation said on Friday.
The RBS-led group on Thursday called on ABN to drop the clause, which would prevent them from making an unsolicited approach for ABN for 12 months. ABN had agreed to give the banks access its books if they agreed to the condition.
Read more at Reuters Africa
The RBS-led group on Thursday called on ABN to drop the clause, which would prevent them from making an unsolicited approach for ABN for 12 months. ABN had agreed to give the banks access its books if they agreed to the condition.
Read more at Reuters Africa
EU approves acquisition of UGS by Siemens
(Reuters) - Plano, Texas-based UGS is owned by three private equity firms -- Bain Capital, Silver Lake Partners and Warburg Pincus, which bought UGS from technology services provider Electronic Data Systems in March 2004 for $2.05 billion.
The Siemens/UGS deal won approval from U.S. antitrust authorities in February.
Read more at Reuters.com Mergers News
The Siemens/UGS deal won approval from U.S. antitrust authorities in February.
Read more at Reuters.com Mergers News
UPDATE 1-Fed drains reserves via 3-day reverse repos
(Reuters) - The Fed accepted Treasuries at a stop-out rate of 5.14 percent for the latest reverse repo operation.
On Wednesday, it conducted its first reverse repo, formerly known as a matched sale, since 2004. That removed $5.25 billion in bank reserves temporarily.
Read more at Reuters.com Bonds News
On Wednesday, it conducted its first reverse repo, formerly known as a matched sale, since 2004. That removed $5.25 billion in bank reserves temporarily.
Read more at Reuters.com Bonds News
Dendreon Short Sellers Bet That its Cancer Drug Won't Win U.S. Approval
(Bloomberg) -- Dendreon Corp. shares are being sold short at a record pace as some investors bet the company's experimental prostate cancer drug will fail to win approval from U.S. regulators.
About 44 percent of Dendreon shares in mid-April were borrowed stock sold short, in anticipation of being replaced at a lower price, according to Nasdaq Stock Market data compiled by Bloomberg. That's a big bet against a stock that has tripled since March 29, when advisers to the Food and Drug Administration recommended the medicine.
Read more at Bloomberg Stocks News
About 44 percent of Dendreon shares in mid-April were borrowed stock sold short, in anticipation of being replaced at a lower price, according to Nasdaq Stock Market data compiled by Bloomberg. That's a big bet against a stock that has tripled since March 29, when advisers to the Food and Drug Administration recommended the medicine.
Read more at Bloomberg Stocks News
Microsoft shares rise after earnings report
(Reuters) - Microsoft said on Thursday its quarterly results, which included a 32 percent rise in revenue, were driven by sales of Vista, introduced to businesses late last year and to individuals this year.
Microsoft said it expects the latest versions of Vista and Office 2007 products to underpin profit growth over the next few years. Those two product lines alone account for more than half of Microsoft's revenue and a majority of its profits.
Read more at Reuters.com Hot Stocks News
Microsoft said it expects the latest versions of Vista and Office 2007 products to underpin profit growth over the next few years. Those two product lines alone account for more than half of Microsoft's revenue and a majority of its profits.
Read more at Reuters.com Hot Stocks News
U.S. Stocks Fall as Economic Growth Slows, Inflation Gains; JetBlue Drops
(Bloomberg) -- U.S. stocks dropped after the economy grew in the first quarter at the slowest pace in four years, overshadowing a forecast for higher sales by Microsoft Corp., the world's biggest software maker.
The Commerce Department said U.S. gross domestic product increased at a 1.3 percent annual rate in January through March, the weakest since the first three months of 2003, after a slump in home construction and a bigger trade deficit reduced growth. Inflation surged to the highest since 1991.
Read more at Bloomberg Stocks News
The Commerce Department said U.S. gross domestic product increased at a 1.3 percent annual rate in January through March, the weakest since the first three months of 2003, after a slump in home construction and a bigger trade deficit reduced growth. Inflation surged to the highest since 1991.
Read more at Bloomberg Stocks News
CORRECTED - Fed drains reserves via 3-day reverse repos
(Reuters) - Fed funds traded at 5.25 percent, the Fed's target for the benchmark overnight lending rate, at the time of the operation.
For further details on the operation, see http://www.ny.frb.org/markets/omo/dmm/temp.cfm
Read more at Reuters.com Bonds News
For further details on the operation, see http://www.ny.frb.org/markets/omo/dmm/temp.cfm
Read more at Reuters.com Bonds News
April consumer sentiment at 7-month low: UMich
(Reuters) - The Reuters/University of Michigan Surveys of Consumers said the final April reading of its consumer sentiment index slid to 87.1 from 88.4 in March. It was the third straight monthly fall in the index.
April's final result was the lowest since 85.4 in September 2006 but was up from the 85.3 preliminary April reading. The median forecast among analysts polled by Reuters was 85.2. The 54 forecasts ranged from 84.0 to 88.8.
Read more at Reuters.com Business News
April's final result was the lowest since 85.4 in September 2006 but was up from the 85.3 preliminary April reading. The median forecast among analysts polled by Reuters was 85.2. The 54 forecasts ranged from 84.0 to 88.8.
Read more at Reuters.com Business News
UPDATE 1-Omnicare profit off, forecast is cut; stock slumps
(Reuters) - Omnicare, which supplies pharmaceuticals to nursing homes, reported first-quarter profit of $43.0 million, or 35 cents per share, down from $53.2 million, or 43 cents per share, a year earlier.
Excluding special items, earnings were 47 cents per share, down from 70 cents a year ago.
Read more at Reuters.com Market News
Excluding special items, earnings were 47 cents per share, down from 70 cents a year ago.
Read more at Reuters.com Market News
FX Concepts' Taylor Says Dollar May Fall to $1.50 Versus Euro Next Year
(Bloomberg) -- John Taylor, chairman of FX Concepts Inc., a New York firm that manages about $12 billion in currencies, said the dollar will weaken over the longer term. He spoke during a telephone interview, following release of the first-quarter gross domestic product report.
``I think the dollar is going to be fine for a month or two. Most of the economists say that the U.S. economy is going to look stronger and believe the reasons why the GDP fell so much are flukes and that they will correct themselves in the second quarter. That's why we don't see the dollar plummet today.''
Read more at Bloomberg Currencies News
``I think the dollar is going to be fine for a month or two. Most of the economists say that the U.S. economy is going to look stronger and believe the reasons why the GDP fell so much are flukes and that they will correct themselves in the second quarter. That's why we don't see the dollar plummet today.''
Read more at Bloomberg Currencies News
Avid, Baidu.com, Broadcom, Medicines Co., Microsoft: U.S. Equity Movers
(Bloomberg) -- The following is a list of companies whose shares are having unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Share prices are as of 9:30 a.m. New York
Avid Technology Inc. (AVID US) fell $4.66, or 12 percent, to $34 and traded as low as $33.87. The maker of sound- and video- editing systems said it broke even in the fiscal first quarter. Seven analysts polled by Bloomberg, on average, estimated profit of 20 cents a share.
Read more at Bloomberg Stocks News
Avid Technology Inc. (AVID US) fell $4.66, or 12 percent, to $34 and traded as low as $33.87. The maker of sound- and video- editing systems said it broke even in the fiscal first quarter. Seven analysts polled by Bloomberg, on average, estimated profit of 20 cents a share.
Read more at Bloomberg Stocks News
Merck says FDA rejects Arcoxia arthritis drug
(Reuters) - Merck had been awaiting approval since December 2003 for the oral medicine, which is already sold in more than 60 other countries. Merck had asked the FDA to approve 30- and 60-milligram doses of Arcoxia to treat osteoarthritis -- the most common form of arthritis caused by wear and tear of the joints.
Recent studies of 90-milligram doses of Arcoxia -- the dose widely used overseas to treat rheumatoid arthritis -- have linked Arcoxia to elevated rates of blood pressure, tissue swelling that can lead to heart problems and congestive heart failure. The same problems had been seen in studies of Vioxx, which Merck withdrew in September 2004 after it was linked to heart attacks among long-term users.
Read more at Reuters.com Government Filings News
Recent studies of 90-milligram doses of Arcoxia -- the dose widely used overseas to treat rheumatoid arthritis -- have linked Arcoxia to elevated rates of blood pressure, tissue swelling that can lead to heart problems and congestive heart failure. The same problems had been seen in studies of Vioxx, which Merck withdrew in September 2004 after it was linked to heart attacks among long-term users.
Read more at Reuters.com Government Filings News
Wall Street set to open lower on weak GDP
(Reuters) - earnings.
A higher-than-expected measure of core personal consumption expenditures, an inflation gauge, contributed to the steeper drop by futures, adding to speculation that inflation may be quickening despite flagging economic growth.
Read more at Reuters.com Hot Stocks News
A higher-than-expected measure of core personal consumption expenditures, an inflation gauge, contributed to the steeper drop by futures, adding to speculation that inflation may be quickening despite flagging economic growth.
Read more at Reuters.com Hot Stocks News
UPDATE 1-Canada manufacturers more upbeat on output, demand
(Reuters) - Twenty-two percent of firms surveyed said they would boost production in the quarter, up from 18 percent in the first quarter, and 62 percent said production volumes would be about the same.
Only 16 percent expect to scale back output compared with 23 percent previously.
Read more at Reuters.com Economic News
Only 16 percent expect to scale back output compared with 23 percent previously.
Read more at Reuters.com Economic News
UPDATE 1-Ceradyne profit rises on body armor sales
(Reuters) - Ceradyne said profit rose to $38.1 million, or $1.38 per share, from $24.6 million, or 90 cents per share, a year earlier.
Wall Street had expected profit of $1.32 per share, on average, according to Reuters Estimates.
Read more at Reuters.com Market News
Wall Street had expected profit of $1.32 per share, on average, according to Reuters Estimates.
Read more at Reuters.com Market News
Indonesia Permits Import of Additional 33,050 Metric Tons of Raw Sugar
(Bloomberg) -- Indonesia has issued a permit to import another 33,050 metric tons of raw sugar to meet demand, a government official said.
That brings the total this year to 218,563 tons of the sweetener, said Alberth Yusuf Tubogu, import director at the Ministry of Trade, in an interview in Jakarta.
Read more at Bloomberg Commodities News
That brings the total this year to 218,563 tons of the sweetener, said Alberth Yusuf Tubogu, import director at the Ministry of Trade, in an interview in Jakarta.
Read more at Bloomberg Commodities News
Virginia Tobacco Debt, Hospital Bonds Lead $8 Billion in Municipal Sales
(Bloomberg) -- State and local governments borrowed more than $8 billion for a second week, led by new bond issues from Virginia and the nonprofit hospital networks of Sutter Health in California and Baptist Health South Florida.
A Virginia bond trust sold $1.1 billion of debt backed by annual settlement payments from cigarette makers, while Sutter and Baptist Health sold a combined $1.68 billion of hospital revenue bonds through state authorities.
Read more at Bloomberg Bonds News
A Virginia bond trust sold $1.1 billion of debt backed by annual settlement payments from cigarette makers, while Sutter and Baptist Health sold a combined $1.68 billion of hospital revenue bonds through state authorities.
Read more at Bloomberg Bonds News
UPDATE 1-Ingersoll-Rand 1st-qtr profit falls 14 pct
(Reuters) - Earnings fell 14 percent, to $217.5 million, or 70 cents a share, compared with $253.2 million, or 76 cents a share, a year earlier.
Analysts, on average, expected profit of 69 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts, on average, expected profit of 69 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
ITT profit beats Wall St, raises forecast
(Reuters) - Sales rose in each its three operating areas -- fluid technology, defense, and flow control products -- but ITT said profit was cut by the sale of pump and fluid handling businesses last year.
Profit beat Wall Street's average forecast of 69 cents per share, according to Reuters Estimates.
Read more at Reuters.com Business News
Profit beat Wall Street's average forecast of 69 cents per share, according to Reuters Estimates.
Read more at Reuters.com Business News
Deutsche Post Shares Climb to a Record on Speculation TCI May Buy Stake
(Bloomberg) -- Shares of Deutsche Post AG, Europe's biggest mail carrier, rose as much as 6.5 percent to a record on speculation that TCI, a hedge fund, may buy a stake in the company.
The shares rose as much as 1.58 euros to 25.94 euros, the highest price since Deutsche Post's November 2000 initial public offering, and were up 4.3 percent at 25.41 euros at 11:36 a.m. in Frankfurt. The stock has gained 11 percent this year, valuing the company at 30.6 billion euros ($41.7 billion).
Read more at Bloomberg Stocks News
The shares rose as much as 1.58 euros to 25.94 euros, the highest price since Deutsche Post's November 2000 initial public offering, and were up 4.3 percent at 25.41 euros at 11:36 a.m. in Frankfurt. The stock has gained 11 percent this year, valuing the company at 30.6 billion euros ($41.7 billion).
Read more at Bloomberg Stocks News
Brookfield Properties reports higher FFO
(Reuters) - Brookfield said its funds from operations were $129 million, or 48 cents a share, up from $103 million, or 44 cents a share in the same quarter of 2006.
Funds from operations is a benchmark, usually for real estate investment trusts, that removes the distorting effects of depreciation.
Read more at Reuters.com Market News
Funds from operations is a benchmark, usually for real estate investment trusts, that removes the distorting effects of depreciation.
Read more at Reuters.com Market News
Cocoa Set for Worst Week Since July on Stockpiles, Ivory Coast Deliveries
(Bloomberg) -- Cocoa was poised for its biggest weekly decline since July as stockpiles monitored by the Euronext.liffe exchange climbed and bean deliveries to ports in Ivory Coast, the world's biggest grower, increased.
Inventories rose 0.9 percent in the past two weeks, taking the increase this year to 57 percent, London's Euronext.liffe said on its Web site. Farmers in Ivory Coast delivered 1.1 percent more cocoa to the country's second port of San Pedro between the beginning of October and April 22 than they did in the same period last season, Reuters reported yesterday.
Read more at Bloomberg Commodities News
Inventories rose 0.9 percent in the past two weeks, taking the increase this year to 57 percent, London's Euronext.liffe said on its Web site. Farmers in Ivory Coast delivered 1.1 percent more cocoa to the country's second port of San Pedro between the beginning of October and April 22 than they did in the same period last season, Reuters reported yesterday.
Read more at Bloomberg Commodities News
Eni to buy Czech fuel chain from Exxon unit-report
(Reuters) - It did not say how much Eni would pay for the stations.
Eni, Europe's fourth-biggest oil company, operates more than 70 filling stations in the Czech Republic under the Agip brand.
Read more at Reuters.com Mergers News
Eni, Europe's fourth-biggest oil company, operates more than 70 filling stations in the Czech Republic under the Agip brand.
Read more at Reuters.com Mergers News
Prada fashions 63 percent profit rise in 2006
(Reuters) - The profit growth was "thanks to a more favourable product mix ... and more effective stock management," among other factors, as well as "strict cost control," Prada said.
Prada's roots are in leather luggage, but it became a household name with black nylon bags that were must-haves for fashionistas.
Read more at Reuters.com Market News
Prada's roots are in leather luggage, but it became a household name with black nylon bags that were must-haves for fashionistas.
Read more at Reuters.com Market News
UPDATE 1-Dutch court to hear lawsuit on ABN's LaSalle sale
(Reuters) - The judge at the hearing, to be held in Amsterdam at 9 a.m. on Saturday, was asked by VEB to give an immediate judgement, the court said in a statement.
Judgments are usually issued by the court within days in cases facing immediate deadlines.
Read more at Reuters.com Mergers News
Judgments are usually issued by the court within days in cases facing immediate deadlines.
Read more at Reuters.com Mergers News
Austria charges bank after Cuban accounts cancelled
(Reuters) - Plassnik told Austria's parliament late last evening that BAWAG had violated EU rules against implementing the U.S. Cuban sanctions on European soil, and that she had therefore launched proceedings against BAWAG.
"U.S. law is not applicable in Austria. We are not the 51st of the United States," Plassnik said. "Neither the EU nor the U.N. have implemented a general economic or contact embargo against Iran or Cuba."
Read more at Reuters.com Government Filings News
"U.S. law is not applicable in Austria. We are not the 51st of the United States," Plassnik said. "Neither the EU nor the U.N. have implemented a general economic or contact embargo against Iran or Cuba."
Read more at Reuters.com Government Filings News
Ivory Coast peace will lift Mali's economy
(Reuters) - Peace in Ivory Coast will boost the economy of impoverished and landlocked neighbour Mali, restoring a key export route as the country tries to raise agricultural production, Mali's commerce minister said.
Ivory Coast's main port of Abidjan had been the gateway for cotton coming out of Mali, and for fuel coming in, until a 2002-2003 civil war split Ivory Coast in two, all but severing Mali's economic lifeline.
Read more at Reuters Africa
Ivory Coast's main port of Abidjan had been the gateway for cotton coming out of Mali, and for fuel coming in, until a 2002-2003 civil war split Ivory Coast in two, all but severing Mali's economic lifeline.
Read more at Reuters Africa
Infineon says no need to sell Qimonda shares now
(Reuters) - "There is no need from our side as our balance sheet is solid and there's no need to make fire sales," he added.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
BRE Bank First-Quarter Net More Than Doubles to $80 Million on Asset Sale
(Bloomberg) -- BRE Bank SA, the Polish unit of Commerzbank AG, said first-quarter profit more than doubled after it sold an asset-management unit.
Net income surged to 222.7 million zloty ($80 million) from 78.9 million zloty a year earlier, the Warsaw-based company said today in a regulatory statement. That beat the 204 million zloty median estimate of seven analysts surveyed by Bloomberg.
Read more at Bloomberg Emerging Markets News
Net income surged to 222.7 million zloty ($80 million) from 78.9 million zloty a year earlier, the Warsaw-based company said today in a regulatory statement. That beat the 204 million zloty median estimate of seven analysts surveyed by Bloomberg.
Read more at Bloomberg Emerging Markets News
Indian Bonds Fall as Inflation Holds Above Central Bank's Desired Zone
(Bloomberg) -- India's 10-year bonds extended declines after a government report showed the annual inflation rate remained above the central bank's estimate for a second week.
The yield, which moves inversely to price, was the highest in almost three weeks before a sale of 60 billion rupees ($1.46 billion) of the debt today. Primary dealers may look for better rates to compensate for the risk of faster inflation or that the central bank will boost borrowing costs to stem consumer prices.
Read more at Bloomberg Bonds News
The yield, which moves inversely to price, was the highest in almost three weeks before a sale of 60 billion rupees ($1.46 billion) of the debt today. Primary dealers may look for better rates to compensate for the risk of faster inflation or that the central bank will boost borrowing costs to stem consumer prices.
Read more at Bloomberg Bonds News
French Stocks Including Renault Fall; Peugeot Citroen and Lafarge Advance
(Bloomberg) -- French stocks including Renault SA slid. France's second-largest carmaker said first-quarter revenue fell 2.7 percent on lower sales in France and Europe.
PSA Peugeot Citroen gained after Europe's second-biggest automaker said first-quarter revenue rose 6.5 percent on strong demand outside Western Europe. Lafarge SA rose after Cazenove suggested investors increase their holdings in the shares.
Read more at Bloomberg Stocks News
PSA Peugeot Citroen gained after Europe's second-biggest automaker said first-quarter revenue rose 6.5 percent on strong demand outside Western Europe. Lafarge SA rose after Cazenove suggested investors increase their holdings in the shares.
Read more at Bloomberg Stocks News
UPDATE 1-Euro Disney H1 net loss narrows as visitors rise
(Reuters) - PARIS, April 27 - Theme park operator Euro Disney SCA from 83.6 million a year earlier.
Operating losses narrowed to 36.3 million euros from 60.9 million, while financial charges rose nearly 10 percent to 45.6 million euros.
Read more at Reuters.com Market News
Operating losses narrowed to 36.3 million euros from 60.9 million, while financial charges rose nearly 10 percent to 45.6 million euros.
Read more at Reuters.com Market News
Network Rail, Santander, Storebrand Plan to Sell Debt: European Bond Alert
(Bloomberg) -- The following is a list of bond sales denominated in euros or pounds and expected in the coming days and weeks.
Investment-Grade Sales
Read more at Bloomberg Bonds News
Investment-Grade Sales
Read more at Bloomberg Bonds News
TeliaSonera Faces Increased Leveraged Buyout Risk, Credit Derivatives Show
(Bloomberg) -- TeliaSonera AB, the biggest Nordic phone company, is becoming a target for leveraged buyout firms after Sweden's government hired banks to help sell its stake in the company, according to traders of credit-default swaps.
Contracts based on 10 million euros ($13.6 million) of TeliaSonera debt are heading for their biggest weekly rise since August, increasing 5,000 euros, or 19 percent, to 31,500 euros, according to data compiled by Bloomberg. Credit-default swaps are financial instruments based on bonds or loans that are used to speculate on a company's ability to repay debt.
Read more at Bloomberg Bonds News
Contracts based on 10 million euros ($13.6 million) of TeliaSonera debt are heading for their biggest weekly rise since August, increasing 5,000 euros, or 19 percent, to 31,500 euros, according to data compiled by Bloomberg. Credit-default swaps are financial instruments based on bonds or loans that are used to speculate on a company's ability to repay debt.
Read more at Bloomberg Bonds News
Allianz to squeeze out AGF minority shareholders
(Reuters) - FRANKFURT, April 27 - German insurer Allianz public offer that ended last week. It previously held nearly 58 percent of the company.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
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